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$ 820,000
$ 882,000 7.0%
Est. payment /mo
Sold on 05/22/2025
1120 Cypress AVE Los Angeles, CA 90065
4,717 Sqft Lot
UPDATED:
Key Details
Sold Price $820,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC25031819
Year Built 1948
Lot Size 4,717 Sqft
Property Sub-Type Mixed Use
Property Description
INVESTORS/DEVELOPERS: 3-Lot Development and Investment Opportunity
A prime corner property with high visibility in Cypress Park featuring three side-by-side lots with LAR1.5 zoning. This is a unique opportunity for developers, investors, and business owners looking for multi-unit development potential or a turnkey investment with existing rental income.
Key Highlights:
- LAR1.5 zoning, ideal for small-lot subdivisions, multi-unit developments, or a custom-built community
- Three contiguous lots providing a combined footprint for development or mixed-use opportunities
- Income-producing property currently operating as a party supply store, flower shop, and retail space, with a long-term tenant on a month-to-month lease
- Additional business space with one unit used for ice cream bar distribution, with equipment included and sold as-is
- Recently upgraded unit featuring new stainless steel sinks, updated plumbing, industrial freezer, and fresh paint with $21,000 in recent improvements
- Prime location minutes from Highland Park, Frogtown, Downtown LA, Chinatown, and major medical centers
- Easy freeway access near I-5, I-110, and I-2, making it convenient for business operations and commuters
- Rapidly growing neighborhood with strong demand for housing, retail, and mixed-use developments
Whether you're looking to redevelop, expand, or hold as an investment, this rare multi-lot opportunity in an appreciating area offers versatility and strong upside potential.
A prime corner property with high visibility in Cypress Park featuring three side-by-side lots with LAR1.5 zoning. This is a unique opportunity for developers, investors, and business owners looking for multi-unit development potential or a turnkey investment with existing rental income.
Key Highlights:
- LAR1.5 zoning, ideal for small-lot subdivisions, multi-unit developments, or a custom-built community
- Three contiguous lots providing a combined footprint for development or mixed-use opportunities
- Income-producing property currently operating as a party supply store, flower shop, and retail space, with a long-term tenant on a month-to-month lease
- Additional business space with one unit used for ice cream bar distribution, with equipment included and sold as-is
- Recently upgraded unit featuring new stainless steel sinks, updated plumbing, industrial freezer, and fresh paint with $21,000 in recent improvements
- Prime location minutes from Highland Park, Frogtown, Downtown LA, Chinatown, and major medical centers
- Easy freeway access near I-5, I-110, and I-2, making it convenient for business operations and commuters
- Rapidly growing neighborhood with strong demand for housing, retail, and mixed-use developments
Whether you're looking to redevelop, expand, or hold as an investment, this rare multi-lot opportunity in an appreciating area offers versatility and strong upside potential.
Location
State CA
County Los Angeles
Area Cypk - Cypress Park
Interior
Laundry None
Exterior
Community Features Park
Building
Lot Description 0-1 Unit/Acre, 2-5 Units/Acre, Corner Lot, Near Park, Street Level, Value In Land
Story 1
Others
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Dominique Allado • Keller Williams Realty Irvine
Bought with Dominique Allado • Keller Williams Realty Irvine
Bought with Dominique Allado • Keller Williams Realty Irvine